Ignoring predictions of waning European gas demand, Russia’s Gazprom is pressing ahead with plans to build costly new pipelines to bypass Ukraine. Moscow wants to squeeze Kiev by funnelling EU-bound gas exports around what it sees as a troublesome neighbour.
But the policy is inadvertently driving Ukraine to do what it should have done long ago – reduce dependence on Russian-supplied gas by diversification and energy efficiency. Annual gas imports from Russia have already plunged from 70bn cubic metres a decade ago to under 30bn bcm this year – and are set to fall further.
In sealing approval this week from holdout Bulgaria, the stage is now set for Russia and its European partners to build the $19bn South Stream pipeline across the Black Sea to south east Europe – a twin for the Nord Stream route, that pumps gas under the Baltic Sea to Germany.
No comments:
Post a Comment